Topic: Betting Features on any Banking or Financial apps should be Removed - page 5. (Read 645 times)

Thanks for letting me know that many things that happens are gambling even when they are not specifically called gambling.
The life is full of gambling and many things that even the banks do is gamble. Perhaps they also gamble with the money that we save in their custody. In this present world, there is no place for ethics and many things that happens, the love and chase of money has replaced ethics and fundamentals and that is why there is nothing wrong with it. Even if a bank has an option for funding gambling accounts. This way surely make the money of anyone addicted to gambling not last in the banking application. It is not a welcome development.

Let's not forget if bank is profit oriented business, so they will try anything to make more money as long as there's no laws to forbid it. Opening a bank account is usually you must be 18 years old, so you're actually allowed to gamble.

It's not about the bank app should remove betting features, I believe anyone already know what's gambling since the ads are everywhere including in sport, if someone want to gamble they can just open a gambling site, this is about self control.

        -   Those features are a bit strange, mate,  maybe don't click on the betting icon, just ignore it. Or you can also ask for their support for your peace of mind. I, too, cannot accept the concept of apps that are in my personal account and in which I invest my money. It's not bad to ask the bank yourself if you have an account with them, and besides, it's your right anyway.

It's only now that I've seen such apps that are banks online, and then there are betting features. It seems very suspicious to me that this will be the case. Maybe later on, the hacker is just waiting for you to be curious enough to take a look at those features, but that won't be easy for sure, so be careful.

Our country has a regulation about this You cannot insert or show any gambling app without the approval of our regulator and all gambling apps are under strict regulation of the gambling board here so there is no banking or payment gateway that has this gambling app even though gambling is not illegal in our country.
I'm surprised that they have this in other countries it should not be added as it invites app users to gamble, maybe they have a partnership with the gambling company, very unusual partnership if there is one.

Ha? That's wrong with the betting feature in your banking application.
It would be very surprising if your bank added the betting feature to its app because it could be abused by people who use the app.
The bank should be wise in this matter and instead add the betting feature, even though using the feature will be the responsibility of each user.
But still, it seems to provide a way for app users to bet.
Hopefully, the betting feature will be removed soon before there are victims of misuse of the betting feature.

At the end of the day, They are still business and maybe they knew that most of there customers send money on a casino that’s why they implement this feature for convenience of their player. I’m not agree too on attachment of gambling feature on a banking app due to the tendency of addiction but we have no choice than to accept their service or don’t use the app.

The only way this feature will be removed if there’s a petition from their customer to remove it. This is same issue on my country financial app but it stays there since no one complains directly to the company offering the service.

This is my first time seeing a feature like that and I haven't encountered anything like this. Supposedly, banks are expected to be the one who should foster financial literacy and promote responsible and wise spending. But it seems like it turns out to be the other way, because again, BUSINESS IS BUSINESS. It is still about how they can generate profit from people, and that's part of business. But this does not apply to all, because there are still banks out there that do not have that kind of features.

For those who don't like gambling, of course this feature will be annoying, but for those who like or who regularly gamble, they will consider it as a convenience that makes it easier to continue funding gambling accounts, but whether it can cause someone to become a compulsive gambler, of course, you can, but everything will really depend on each other.
I mean is there any way we can fight that if it turns out the law allows it? Of course the answer is no other than accepting it.
The presence of these features in a financial application that is available in your country is of course based on applicable law, meaning that gambling is legal, so there is nothing you can do other than accept the feature if you don't like it, the choice is to use another financial application with an equally good rating, but if you are a person who can always control yourself well, meaning gambling with good limits, then it will be fine.

Directly? Damn! They should remove that.
I know there are banking institutions that allows deposit in different gambling sites but this is just too much if they are the bank itself is doing the gambling business.

Can you please name the bank? It's private, right?
Correct, this service should be removed by them. There are groups who are battling gambling addiction and here goes the bank itself with a direct gambling feature at where is our money at. Just looking at it feels so wrong. Then, there's the security that makes you worry. What if they will be attacked due to this service that they provide? I mean, those who specialized in online gambling only are being attacked, what more with them?
If I see that in my banking service, I am gone with all my money and move it in a different bank.

This depends a lot on the entity that supervises the banks in each country.
In Brazil, the regulatory body is called "BACEN" and I'm sure it would never allow a financial institution to allow this type of "functionality" within an application.

Financial institutions should appreciate and encourage the conscious use of money by people, offer savings and profitability services, financial education... never something that can lead the user to create an addiction that makes him lose all his money and possibly until you get into debt with it.

Unfortunately, the unbridled advertising of online betting is getting out of control and common sense, my fear is that someday this will be so poorly seen in society that governments will need to create strict rules that can "drown" this business model.

I completely agree.

I'm not sure about mobile banking apps but I'm a user of a financial app that also offered quick access to a gambling activity. And this was one big reason why my wallet on that app had oftentimes no balance in it. It made everything very accessible. It only needed a few taps on my mobile phone and my wallet has already transferred an amount to my gambling wallet. Gambling runs 24/7. The result is that every time there's an amount in my wallet, I am urged to gamble. And this experience is shared by all of my gambling friends who also use that app.

In a way, I'm a living proof that such feature is risky as it is unnecessary.

This is my first time seeing a bank offering a gambling but of course before they release this kind of feature they will makes letter and approval to the government itself all of these process are regulated but if you are not a gambler I guess you don't need to get bothered because surely you will ignore this feature.



Most of the finance I know are offering loans services but as a betting, I guess this possibly include their entertainment. Right at the end it's all about users if will adopt it or not.

I think I know where OP is from. General financial and banking apps do have these features and to me, it should be removed and the apps fined a hefty amount. It's as if they are affiliated with these apps and are subtly advertising them. I know most people are not gambling degenerates and would really be ignoring these features, but to those who are already challenged when it comes to stopping their gambling habit, this is very dangerous.

I looked into mine (not the same as OP, just a general fintech app), and it doesn't have one. i think it might be specific to your app only OP? What app is it even? If it was an official app by a bank, then maybe it should be removed. If it was, however, just a general finance app made by a private company, then I don't think they have any "responsibility" to remove gambling-related stuff. They can add it as they wish if they receive a sort of promotion pay for it.

A reverse Google image shows the image is from Opay, and they aren't really a "bank" app, they're a fintech app, an overall kind of payment thingy (man I have to work on my describing skills) for general finance use. I'd say it's fine, it's the same logic anyway as having said apps at your reach when you want to buy something online. I know quite a few people who are addicted to that kind of thing. It's just a matter of controlling your finance imo.

Yes, I agree with you about removing the betting feature in banking applications because it could put someone at risk of using their savings for gambling. Perhaps that's okay if the person has good self-control. But we know that not many people can have such good self-control that it can make them place bets even secretly without their husband/wife knowing. Indeed, consumers are responsible for everything that happens in the application. But the bank must also be responsible for the application because such features can encourage someone to try it, especially for highly curious people. The bank must immediately remove the betting feature in the application. Perhaps you must go to your bank office to complain about this because your complaint will usually be responded to quickly offline. Just my guess.

Yes, I agree with your perspective on the one hand in the long term the betting feature in banking applications like that will be very bad increasing the number of gambling addicts and bad things will happen because serious addicts will commit crimes to get money and keep gambling and this is what I say about the consequences of betting.

Another problem, in my personal opinion, such a feature only exists in countries where gambling is allowed to operate and for countries where gambling is prohibited, this feature will never exist because gambling activities are considered to be against regulations.

I thought a little about how can a banking application have a betting feature whereas it is really very dangerous for banking consumers which indirectly will be a bad thing when someone tries to bet and the number of gamblers is increasing and the worst is the increase in gambling addicts and my question is how If one day the number of gambling addicts increases, will the bank or the state provide rehabilitation guarantees for these addicts?
I mean if this feature has been around for a long time I'm sure your country allows gambling to operate and get taxes from gambling and when you add this feature it indirectly encourages someone who is not a gambler to want to try betting and get addicted after that will the bank have the effort if something bad like that happens?
I'm worried that if a feature like that is not removed it will have a very bad impact.

Though obscure, a banking app in the Philippines also follow the same thing. They pretty much promote an otherwise licensed casino on their site through ads and vouchers you gain from purchasing or transacting with the app. And while it's not my cup of tea, I don't think it's that debilitating that they have to remove it entirely. For the most part, you already have a clear agenda in mind when you open your banking app, either through paying bills, withdrawal, whatever is the case for you, so it's not like these tabs, ads, or voucher's that effective at diverting your attention from your goals. it's a little something they leave out if you just wish to gamble or whatever, I don't think they should remove it or whatever since after all it would only cater to those who gamble anyway.

Is that even a legit apps?
Because in my place banks have no place for any gambling site as they are restricting their client to use banks for gambling purposes. If you are going to do this make sure that your banks really allows it or else you might face problem later on as your account will be tagged for investigation, better to be more safe when dealing with the banks.

Like I said before, that is OPAY, which can be seen in countries in Asia, Africa and Latin America, especially in countries that do not have stringent regulations for gambling. That is why you are seeing it like that. If it is in North America or Europe where gambling are regulated, you can not see such an app having betting site clearly written on the home page for people to click on to fund their local betting account. I have used the app before and the payment into my local betting site was almost instantly. That was before I started to prefer crypto gambling sites.

You do know that even investment and trading options banks have on their apps are just different forms of gambling right? In fact, many financial activities involve you betting on an outcome. Even insurance is a bet against outcomes, if you think about it!

That said, agreed. I love a bet, but those have no place on a banking app. You're using what they call a superapp (app that does everything). Popularised in Southeast and East Asia, extremely slow in coming to Europe. I'm a fan of those apps, very convenient. Use them to death in Asia for everything. No betting though, but African superapps pushing the limits